10/3/2022
Oct 03, 2022
The USDA started the day off an announcement of 110,000 MT of beans for unknown for 2022/23. That might have helped beans get a little bit of their losses back from Friday's report. Corn traded up a dime on the overnight, but pulled back to only 3 higher on the day. After a friendly corn report on Friday, it would have been nice to see new highs today, but it didn't happen. Harvest progress will be out tonight as it is in full swing in the north this week. Corn harvest is expected to come in at 22% complete vs. 12% last week. Soybeans are expected to be at 20% vs. 8% last week. Yields remain variable as some are good and some not so good up here depending on rain fall and soil type. Overall, I would say we are better than expected here. The outside markets are seeing some movement today with the DOW up over 800 points, S&P up over 100 points, crude up close to $4/barrel, and the U.S. dollar down 454 points at 1:55 PM.